13th Jul 2022 13:20
Concurrent Technologies PLC - Essex, England-based designer and manufacturer of computer boards - Signs a supply agreement with an unnamed Fortune 500 medical technology company. Wins an initial USD2.2 million order for the first year of product shipments. Shipments have already commenced. Customer is expected to place similar size orders on an annual basis for several years, company adds.
"The required product was developed at pace in line with the expectation we have set for increasing the cadence of new product introductions. With the customer intending to place similar size orders on an annual basis for several years to come, this is expected to provide a steady revenue stream that is wholly accretive to our current business," says Chief Executive Miles Adcock.
Current stock price: 79.12 pence, up 6.2% in London on Wednesday afternoon
12-month change: down 8.5%
By Heather Rydings; [email protected]
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